Staff Reports
In a surprising turn of events, bank records and other documents have emerged, suggesting that President Joe Biden received a $40,000 payment from his brother in 2017, which may have originated from a Chinese firm. The information comes from a memo compiled by the Republican-led House Oversight Committee, which highlights circumstantial evidence, including a text message from Hunter Biden to his Chinese associates mentioning his father's name just days before the money was transferred to Hunter Biden's account. These findings have prompted Republican Representative James Comer, the Chair of the Oversight Committee, to accuse President Biden of accepting foreign funds.
Chinese Funds Moved Through Biden Family Accounts to Joe Biden, Bank Records and Documents Suggest https://t.co/fkzcEMmuMv
— The Epoch Times (@EpochTimes) November 2, 2023
It's important to note that the evidence doesn't definitively prove that the money was intended for President Biden, as he was a private citizen and former vice president at the time. However, the memo highlights a troubling pattern in which the Biden family appears to have profited from their connections, particularly by leveraging the Biden name with money coming from China. President Biden vehemently denies benefiting from his family's business endeavors, but the mounting evidence raises questions.
Democratic Representative Jamie Raskin, the ranking member on the Oversight Committee, has countered these accusations, stating that there is no evidence of wrongdoing by President Biden. He criticizes the Republicans for their broad and intrusive subpoenas, which he believes unjustly target private citizens' financial records. Despite the ongoing partisan dispute, the evidence revealed by the committee is significant.
The memo sheds light on the complex financial transactions involved in this case. Bank records indicate that the funds moved through a series of Biden family accounts, most of which were nearly empty or funded by other Chinese entities. The initial $5 million wire transfer from a firm connected to CEFC China Energy was deposited into Hunter Biden's joint venture account, which had no funds at the time. The money then passed through various transactions, eventually reaching Joe Biden's brother, James Biden, through a $150,000 wire transfer initiated by Hunter Biden. James and his wife, Sara Biden, made several purchases before withdrawing $50,000 and depositing it into their personal account. Sara Biden subsequently wrote a $40,000 check to Joe Biden.
The committee's findings are connected to a failed business venture involving Hunter Biden, Tony Bobulinski, and others. Initially, this venture included a 10% stake for Hunter Biden, referred to as "the big guy." However, Hunter later abandoned this venture and established his own entity to receive the wire transfer from the CEFC-connected firm. The evidence provided by the committee strongly suggests that the $40,000 check originated from the initial $5 million payment.
Representative Comer points out that even if the $40,000 was a loan repayment, it still illustrates how Joe Biden benefited from his family capitalizing on his name, particularly with money originating from China. The congressman considers it "plausible" that the money was indeed a loan repayment, as the President's brother and sister-in-law would not have had the funds to write the check without the initial wire transfer.
Critics argue that these findings are merely a distraction or an attempt to discredit President Biden, but recent polling indicates that a majority of Americans take them seriously. Around 68% of Americans believe that President Biden has acted either illegally or unethically regarding his family's business affairs, although most Democrats (58%) believe he has done nothing wrong. As investigations continue, these revelations add to the ongoing debate and raise important questions about the ethical conduct of the President and his family.
